Abstract: The extra-cellular enzyme activity of Penicillium waksmanii F10-2 was determined using chinaberry bark residues as substrate at different times. The ultra-structure and chemical constituents of the residues before and after fermentation were also compared by using scanning electron microscope (SEM) and Fourier transform infrared spectrum (FTIR). The results show that fermentation of P. waksmanii F10-2 utilizes methyl cellulose as substrate. After 8~16 days of fermentation, the maximum activities of cellulase, hemi-cellulase, lignin peroxidase and Mn-depended peroxidase are 6.42 U·g^-1, 7.62 U·g^-1, 6.55 U·g^-1 and 3.33 U·g^-1, respectively. The ultra-structure of degraded chinaberry bark residues is soft and loose with some micro-pores. FTIR spectrum analysis of the residues shows that P. waksmanii fermentation products degrade components of chinaberry bark residues. After fermentation for 24 d, the ratios of degradation of cellulose, hemi-cellulose and lignin in residues are 42.70%, 33.96% and 24.62%, respectively.